Cable Testing and Certification Market Size by Voltage, Test, End-User, Region, Industry-Wide Analysis, Competitive Landscape Assessment & Long-Term Forecast to 2029
Overview
Cable Testing and Certification Market was valued at US$ 11.93 Bn in 2022 and is expected to reach US$ 18 Bn by 2029 at a CAGR of 6.05% during the forecast period.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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Cable Testing and Certification Market Dynamics:
Factors such as weak performance in system deployment, network systems, and bad products have steered the need for cable testing and certification. A requirement of enhancing quality assurance procedures and the requirement of reducing potential errors has led to a huge demand for cable testing and certification from the cable manufacturers.
Cable testing and certification can resolve issues such as crossed wires, cable tension, & mal-operations, cable damage or cable kinks, proper connector deployment, and improper termination of cables. The cable testing and certification market growth is expected to gain traction in the years ahead subject to factors, for instance, increasing use of cables as a result of the rise in power generation in the OECD and non-OECD countries, growth in the global electronics and IT sectors, and increasing industrialization and globalization. The high cost of cable testing and certification is the major restraint of the market.
Cable Testing and Certification Market Segment Analysis:
The high-voltage segment is dominating the global cable testing and certification market. High-voltage cables are used in underground, overhead conditions, and submarines. Some of the major end-users of high-voltage cables contain transmission & distribution utilities, offshore wind farms, and other energy industries. Increasing demand for high-voltage cables by different end-users is expected to drive the demand for their testing and certification.
The routine test segment is leading the cable testing and certification market globally. A routine test is a group of tests performed on every batch of finished cables to determine the integrity of the cables. The tests included under the test segment are high voltage test, insulation resistance test, copper wire screen resistance test, partial discharge test, conductor resistance test, dimensional tests, and cable markings and measurement. These tests may differ in terms of the cable types and are specified in the relevant cable standards. Owing to the low cost of routine tests, it is expected to grow at a high rate.
Cable Testing and Certification Market Regional Insights
Region-wise, the Asia Pacific is anticipated to be the fast-growing market for cable testing and certification globally. The rise in the demand for cables is associated with the increase in electricity generation and distribution owing to the rapid industrialization and urbanization in APAC. Increasing demand for cables from several industries such as electrical & electronics, transportation, and energy utility in the Asia Pacific is expected to raise the demand for cable testing and certification in the region. This will drive the global cable testing and certification market trends in the region.
In the primary research process various primary resources from both, the supply and demand sides of the market were interviewed to obtain quantitative and qualitative information. In the secondary research process, many secondary resources such as Hoovers, Bloomberg Business Week, and Dun & Bradstreet have been referred to, identified, and collected information for this study.
Global cable testing and certification market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Cable Testing and Certification Market, Key Highlights:
• Global Cable Testing and Certification Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Cable Testing and Certification Market
• Global Cable Testing and Certification Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Cable Testing and Certification Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Cable Testing and Certification Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Cable Testing and Certification Market are also profiled.
Scope of the Cable Testing and Certification Market: Inquire before buying
| Cable Testing and Certification Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2022 | Forecast Period: | 2023-2029 |
| Historical Data: | 2017 to 2022 | Market Size in 2022: | US$ 11.93 Bn. |
| Forecast Period 2023 to 2029 CAGR: | 6.05% | Market Size in 2029: | US$ 18 Bn. |
| Segments Covered: | by Voltage | • Low Voltage • Medium Voltage • High Voltage |
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| by Test | • Routine Test • Sample Test • Type Test |
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| by End-User | • Cable Manufacturers • Utility Providers |
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Cable Testing and Certification Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Cable Testing and Certification Market Key Players are:
• DEKRA
• Underwriters Laboratories
• British Approvals Service for Cables
• SGS
• BRE Global
• TÜV Rheinland
• Bureau Veritas
• Intertek
• TÜV NORD GROUP
• North Central Electric
• RN Electronics
• TÜV SÜD
• Eland Cables
• Industrial Tests
• Eurofins Scientific
• KEMA Laboratories
• Applus+
• CESI
• Kinectrics
• Tecnalia Corporation
• The Institute for International Product Safety
• Central Power Research Institute
Frequently Asked Questions:
1. Which region has the largest share in Global Cable Testing and Certification Market?
Ans: Asia Pacific region held the highest share in 2022.
2. What is the growth rate of Global Cable Testing and Certification Market?
Ans: The Global Cable Testing and Certification Market is growing at a CAGR of 6.05% during forecasting period 2023-2029.
3. What is scope of the Global Cable Testing and Certification Market report?
Ans: Global Cable Testing and Certification Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global Cable Testing and Certification Market?
Ans: The important key players in the Global Cable Testing and Certification Market are – DEKRA, Underwriters Laboratories, British Approvals Service for Cables, SGS, BRE Global, TÜV Rheinland, Bureau Veritas, Intertek, TÜV NORD GROUP, North Central Electric, RN Electronics, TÜV SÜD, Eland Cables, Industrial Tests, Eurofins Scientific, KEMA Laboratories, Applus+, CESI, Kinectrics, Tecnalia Corporation, The Institute for International Product Safety, Central Power Research Institute.
5. What is the study period of this Market?
Ans: The Global Cable Testing and Certification Market is studied from 2022 to 2029.